BROADEN MINING INVESTMENT OPTIONS SAYS SILVER

Posted by Jason Cunning349pc on September 26, 2012

Whitehorse: The Government of Yukon should broaden its horizons when it comes to sources of capital for the Yukon mining industry instead of solely relying on Chinese investment, says Klondike MLA Sandy Silver.

“For the last number of years the Yukon Party has focused exclusively on China to the complete exclusion of sources of capital in Canada, the United States and Europe,” said Silver. “Industry itself, particularly through the Yukon Gold Mining Alliance, has been quite active in markets other than China. Why the government is only interested in China is something that doesn’t make sense.”

Silver believes Chinese investment is more about stockpiling resources for future development and less about improving local economies.

“Unfortunately this pattern is on display around the world and it appears to be the only country the current government is interested in doing business with,” he said. “Industry, on the other hand, is leading by example, demonstrating there are other options.”

The state of Yukon’s road and power infrastructure is certainly a factor when investors are deciding where to put their money.

“Partnerships within the European market would mean answering the hard questions on our power supply and roads. Chinese investors don’t have the same concerns because they are looking at their purchases through a much longer development lens.” Silver said. “The Yukon Party government has done very little to address these infrastructure needs and companies are aware of the lack of movement on these issues over the last number of years.”